The principal in Dak Lak made a shocking story, selling the school for the reason of 'difficult'?

On November 29, a leader of the Department of Labor, War Invalids and Social Affairs of Dak Lak province said that Binh Minh Intermediate School (Buon Ma Thuot City, Dak Lak) had a new owner and new principal.

The authorities instructed people to initiate a lawsuit in court to handle the case that the former principal used the seal to borrow more than 5 billion VND and then quietly ceded the school. Previously, about 20 people and teachers at Binh Minh Intermediate School filed a petition for help, requesting the authorities to temporarily stop changing the current status of the school's facilities due to debt.

According to the teachers, at the end of 2018, Ms. Tu Thi Hong Hoa - principal, chairwoman of the board of directors of Binh Minh Intermediate School - borrowed more than 5 billion VND from many people to invest in equipment, facilities, and repay bank loans.

Notably, in the loan papers and receipts from the people, teachers all use receipts and red seals of Binh Minh Intermediate School, so many people have trusted to invest. Of these, the premise loan dated 2-1-2019 was borrowed by Ms. T.Tu Thi Hong Hoa - Chairwoman of the Board of Directors, representing Binh Minh Intermediate School - borrowed from Ms. T.T.N. (Krong Ana District, Dak Lak Province) 500 million VND.

The two parties agreed on an interest rate of 2%/month, the time of interest payment each month from the date of borrowing. When it is necessary to get the principal back, Ms. N. gives 1 month's notice to Binh Minh Intermediate School, Ms. Hoa is responsible for paying the above amount in full.

The loan papers are fully signed by both parties, stamped with the wooden seal of Binh Minh Intermediate School.

Ms. N. said that at first, Ms. Hoa still paid interest every month, but for more than 1 year, it is no longer there. Particularly, the principal of Ms. N. has also been asked for many times, but Ms. Hoa did not pay, while the new owner at Binh Minh Intermediate School said "irrelevant".

"Hearing that the school is preparing to transfer to a new unit, I and many others have to make an application to the People's Committee of Dak Lak province to avoid dispersing the property without satisfactorily solving the problem," Ms. N. worried.

Discussing this issue, Ms. Tu Thi Hong Hoa admitted that she used the name of the chairman of the board of directors and the seal of Binh Minh Intermediate School to borrow a large amount of money from some individuals to invest in facilities and equipment for the school.

"I still pay interest on the debts, but recently I can't afford it, so I haven't paid interest to them. Business collapsed due to COVID-19 years, the school borrowed hot and cold loans to manage. As for the debt, of course I have to try to pay it off gradually," Ms. Hoa said.

Regarding this issue, the new principal at Binh Minh Intermediate School said that he had just been assigned to be the principal in terms of expertise, the part of buying and selling his assets was not involved.

Meanwhile, the representative of the new investor affirmed that the purchase, sale and transfer of Binh Minh Intermediate School is no longer related to Ms. Tu Thi Hong Hoa. According to this person, Ms. Hoa has transferred her shares to 3 other shareholders in 2023. After that, the new owner received the transfer of shares from the above 3 shareholders to consolidate operations again. The representative of the new investor also said that he was innocent of the debts that Ms. Hoa borrowed to build and purchase equipment in the school.

According to him, when the university borrows money to invest in the university, there must be a meeting minutes of the board of shareholders and the board of directors to approve the loan plan for what to do and how to repay the debt.

As for how successful the transfer is, it must be recognized by the authorities according to regulations. The principal and chairman of the board of directors have also been confirmed by the competent authority.

Regarding this case, a leader of the Department of Labor, Invalids and Social Affairs of Dak Lak province said that currently Binh Minh Intermediate School has changed the members of the board of directors and principal.

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